Fees You Shouldn't Be Paying

No matter what your net worth, unnecessary account and cash management service fees take money out of your pocket. Here is how to avoid the most common fees.

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Have you checked your bank statement lately? Take a look. The fees could be adding up.

The out-of-network ATMs you used charged you a litany of fees—one from the ATM owner and possibly one from your financial institution. Your financial institution’s monthly account fees may have taken another $10-$12 dollars.1 And your trip abroad hit you with foreign transaction fees of $2 to $7 on cash withdrawals (plus a conversion rate calculated as a percentage of your withdrawal).2 For an international wire transfer, you could be charged $15-$30 more.3

Those fees—for monthly service, ATM withdrawals and foreign transactions—are just some of the fees your financial institution can charge that you shouldn't be paying.

With Morgan Stanley’s Premier Cash Management program you can avoid many of these fees, and also have access to a variety of enhanced services—a reward for managing your everyday finances at Morgan Stanley.

Savings at the ATM

With the Morgan Stanley Premier Debit Card, you will receive unlimited ATM fee rebates worldwide. Although it may only seem like a few dollars here or there, saving money on ATM fees adds up. A recent Bankrate survey showed that in 2016 the average charge for non-customers to withdraw money from a U.S. ATM was $2.90.4 And your own financial institution will likely levy a surcharge for using an out-of-network ATM averaging $1.67.5

Foreign Transaction Fee Savings

The realized savings can be even higher when traveling internationally since the Premier Cash Management program covers foreign transaction fees on the Debit Card—in addition to unlimited ATM fee rebates worldwide. Some U.S. financial institutions charge $5 per transaction and 3% of the amount withdrawn. To illustrate how this adds up, $1,500 withdrawn internationally over three ATM visits would cost you a whopping $60—in addition to the fees from foreign banks.

Part of a Wealth of Cash Management Services

As a Premier Cash Management client, you also qualify for select account and fee waivers services such as wire transfers, stop payments and overnight check disbursements.

But fee waivers aren’t the only benefit of the Premier Cash Management program. Through our partnership with Experian®—a leader in credit and identity theft protection—you’ll receive daily monitoring of your personal and financial information, email and text alerts to inform you of possible fraud, and comprehensive credit reporting. We’ll also provide Resolution Agents—available 24 hours a day, 7 days a week—to guide you through the resolution process if you become a victim of identity theft, or if you need to cancel and replace “lost wallet” items. Additionally, it includes insurance coverage up to $1 million to cover lost wages, legal fees, and other costs you may incur from identity theft.

Other premium services of the Premier Cash Management program include access to U.S.-based cash management service professionals when your Financial Advisor and team are unavailable. Further, you will receive front-of-the-queue priority service when you call, as well as expedited delivery of cards and checks at no extra charge.

To learn more about the Premier Cash Management program and free yourself from avoidable fees, call your Morgan Stanley Financial Advisor today or visit www.morganstanley.com/premier. If you don’t have a Morgan Stanley Financial Advisor, find one near you using the locator below.

The Morgan Stanley Debit Card is currently issued by UMB Bank, n.a., pursuant to a license from MasterCard International Incorporated. MasterCard and Maestro are registered trademarks of MasterCard International Incorporated. The third-party trademarks and service marks contained herein are the property of their respective owners.

Premier Cash Management is an incentive program that recognizes and rewards clients for choosing Morgan Stanley for their everyday cash management needs. Clients must meet certain criteria in order to qualify for the Premier Cash Management program, and Morgan Stanley Smith Barney LLC reserves the right to change or terminate the program at any time and without notice. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with affiliated and non-affiliated parties to assist in offering certain products and services related to Premier Cash Management. Please refer to the Premier Cash Management Terms and Conditions for further details.

Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

Please be advised that the selection of the Financial Advisors presented to you is done randomly and is based solely upon areas of focus that have been selected by the Financial Advisors themselves and upon their stated preferences or interests. Morgan Stanley makes no representation as to an individual Financial Advisor�s experience and/or knowledge in the stated preferences or interests they have chosen. The preferences and interests that they have chosen have not been vetted by Morgan Stanley. Individuals are encouraged to consider their own unique needs and/or specific circumstances when selecting a Financial Advisor.